Singapore Press Holdings outperforms muted Singapore index

SINGAPORE (Reuters) - Singapore shares inched up on Monday, led by gains in media conglomerate Singapore Press Holdings, as Wall Street posted another record close and data showed China's factory activity expanding at the fastest pace in five months.

China's official Purchasing Managers' Index rose to 50.8 in May from April's 50.4, the National Bureau of Statistics said on Sunday, reinforcing views that the world's second-largest economy is regaining momentum.

The benchmark Straits Times Index was up 0.1 per cent at 3,299.20, while MSCI's broadest index of Asia-Pacific shares outside Japan was flat.

Singapore Press Holdings was the best performer on the index, edging up 1.7 per cent at $4.17, on bargain-hunting after falling as much as 3.5 per cent on Friday.